BNK Ltd. has a cost of debt (pre-tax) of 7%, a cost of equity of 11%, and a cost of preferred stock of 8%. The firm has 1,04,000 shares of common stock outstanding at a market price of ₹ 20 a share. There are 40,000 shar

BNK Ltd. has a cost of debt (pre-tax) of 7%, a cost of equity of 11%, and a cost of preferred stock of 8%. The firm has 1,04,000 shares of common stock outstanding at a market price of ₹ 20 a share. There are 40,000 shares of preferred stock outstanding at a market price of ₹ 34 a share. The bond issue has a total face value of ₹ 5,00,000 and sells at 102% of face value. The tax rate is 34%. What is the approx. weighted average cost of capital for BNK Ltd. using market value weights?